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Revised Form RD HB-1-3550 and HB-2-3550, the Subsidy Repayment Agreement for RD Loans

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USDA-Rural Development had recently released a revised version of Form RD HB-1-3550 and HB-2-3550, the Subsidy Repayment Agreement.

RD has revised the form to more clearly explain when recapture is due and how it is calculated.  Many of the terms used on the agreement are further defined and clarified.  The Form is also revised to state that the unpaid balance of loans being liquidated by deed-in-lieu of foreclosure (voluntary conveyance) to the government or foreclosure shall include the total amount of subsidy that has been granted on the loan.  Supplies dated prior to the revision date will be disposed of or recycled.  This Form and FMI are available on the Rural Development Instructions home page (http://www.rurdev.usda.gov/regs/).  No paper copy distribution of this form will be made, and it will not be stocked in the warehouse.

A copy of the revised form may be found here: https://pws.sc.egov.usda.gov/login/login.aspx?TYPE=33554433&REALMOID=06-69f56e08-c1b6-4cad-8193-2ad2fd925bd9&GUID=&SMAUTHREASON=0&METHOD=GET&SMAGENTNAME=-SM-19cBuKs0fGwzZ651zto6Sd4OVaiMv6Yu%2bCeVADAIOTPdyTvlgQLp6ZliNIG4p%2bgC&TARGET=-SM-https%3a%2f%2fformsadmin%2esc%2eegov%2eusda%2egov%2fefcommon%2feFileServices%2feFormsAdmin%2fRD3550–0012_120500V06%2epdf

A copy of the Procedure Notice 457 announcing the revised form may be found here: http://www.rurdev.usda.gov/regs/pn/pn457.html

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